The general consensus continues to sway towards the bottom of the bear market having passed. The Mayer Multiple (MM) Indicator, which signalled the bottom of the last downturn, is flashing again. Even UBS is calling the market bottom, although it (somewhat disparagingly) suggests it may be 22 years before we see a new ATH.

Binance coin didn’t seem to accept this, and became the first cryptocurrency to bounce back and already surpassed January 2018 highs. We’re fairly certain that BTC will also take this 22 years figure with a pinch of salt.

Latin American Growth

This week saw numerous BTC-related records fall across Latin America. Faced with the threat of either their own fragile economies, or a certain Donald Trump, business was booming for Bitcoin. Mexico and Venezuela posted record BTC volumes traded on LocalBitcoins, the former due to Trump’s threat to target remittances.

Argentina’s runaway inflation problem is seeing more people turning to Bitcoin to preserve their wealth. While Brazilian seems to be headed in a similar direction, perhaps driving 100,000 BTC traded on Brazilian exchanges in just 24 hours.

News of the Trump administration’s latest measures against Cuba could well see another BTC hotspot open up before our eyes.

Bitcoin Payments Acceptance

Several big merchants who were early adopters in accepting cryptocurrency payments moved out of the market due to the volatility of BTC price in recent years. However, in a significant move, the UKs biggest business travel agency announced that it would start accepting payments in bitcoin.

Regulation Miscalculation

France called for Europe-wide implementation of its ‘new and innovative legislation‘ for cryptocurrency. Bitcoinist wasn’t sure it had quite hit the mark, and such face-control would likely have hurt the Bitcoin campaign to raise funds for the restoration and repair of Notre Dame cathedral.